India to surpass Germany becoming the fourth largest economy by 2026

New Delhi, December 30: India is slated to overtake Germany to become fourth-largest economy in the world by the year 2026 as revealed by a report by the UK-based Centre for Economics and Business Research (CEBR). "India is all set to overtake Japan to become the third-largest economy by 2034", the report read, India while in the economic slowdown trouble.

 

The report titled 'World Economic League Table 2020' also noted that India is set to become a 5 trillion dollar economy by 2026, 2 years later than the government's target of 2024. "India has decisively overtaken both France and the UK to become the world's fifth-largest economy in 2019", it added.

The report said that Japan, Germany and India will battle for third position over the next 15 years. India which till recently was hailed as the world's fastest growing economy, has seen growth rate decline to a six year low of 4.5 per cent in September, 2019.

This has largely been attributed to the slowdown in investment that has now broadened into consumption, driven by financial stress among rural households and weak job creation.

The World Economic League Table is an annual calculation by CEBR jointly published by CEBR and Global Construction Perspectives. The base data for 2019 is taken from the IMF World Economic Outlook.